Legal Quotient Consultants

LQ Consultants excels in Indian, USA, and Canadian taxes, offering expert tax and accounting services for corporations, MNCs, and expats globally.

[Legal Quotient Consultants @QuotientLegal]

LQ Consultants has brought you the key highlights of important judgements on Transfer Pricing litigations for the month of March 2022.

One can update themselves with the link given below: https://t.co/4aejfNAV8s

[Legal Quotient Consultants @QuotientLegal]

Here the budget comes and so are we, with the key takeaways from Union Budget 2022.
@CARaghavG @MantryRachita @cauditgupta

https://t.co/k3QQTwglgB

[Legal Quotient Consultants @QuotientLegal]

CBIC has issued a weekly update covering major changes and new functionalities that took place under GST. Here are the key highlights from the weekly update.

#CBIC #gstupdates #GST #weeklyupdates

@CARaghavG
@cauditgupta
@MantryRachita

[Legal Quotient Consultants @QuotientLegal]

https://t.co/km1ksfcLkU

[Legal Quotient Consultants @QuotientLegal]

Recommendations have been made by agencies regarding the changes to be made in GST. We've compiled a list of suggestions and presented a summary for the same.
Kindly refer thread for the summary
@CARaghavG @cauditgupta @MantryRachita
#PrebudgetMemorandum #GST #CBIC #Suggestions

[Legal Quotient Consultants @QuotientLegal]

https://t.co/3QonRab9OR

[Legal Quotient Consultants @QuotientLegal]

Various agencies have provided recommendations regarding the forthcoming Budget. We have compiled those and prepared a summary for International taxation.
Kindly refer thread for the summary
#prebudgetmemorandum #Internationaltaxation
@CARaghavG
@cauditgupta
@RachitaMantry

[Legal Quotient Consultants @QuotientLegal]

CBDT has issued guidelines under section 194-O, section 194Q, and section 206C in order to remove difficulties. The summary is given below:-

#CBDT #updates #TDS #TCS #incometax

[Legal Quotient Consultants @QuotientLegal]

US and India settled on the issue of a 2 percent equalisation levy, one of the pillars of the Two-Pillar solution to address the tax challenges arising from the digitalisation of the economy.
#oecdtax #transferpricing #internationaltaxation #USA
@cauditgupta
@CARaghavG

[Legal Quotient Consultants @QuotientLegal]

In response to the various representations made to the department, CBIC has issued clarification regarding refund-related issues under GST and dynamic QR code.

#cbic #gstupdates #clarification #gstrefund

@CARaghavG @MantryRachita @cauditgupta @bansaldeepanshu

[Legal Quotient Consultants @QuotientLegal]

On 20.09.2021, CBIC had issued certain clarification giving effects to the key decision made in 45th GST Council Meet.
The update can be accessed through this link: https://t.co/nMBF1LmRL4

#cbic #gstupdates #tax #gstcouncilmeet

[Legal Quotient Consultants @QuotientLegal]

The 45th GST Council Meeting convened in Lucknow on 17th September, 2021 for its first physical meeting in 20 months with a packed agenda. A plethora of decisions & recommendations were made. The summary is duly attached:
#CBIC #GST #GSTCouncilMeeting #Compliance #return

[Legal Quotient Consultants @QuotientLegal]

Global Transfer Pricing Updates for the month of August 2021. The Covered jurisdictions are China, Ukraine, Germany, Hongkong and OECD.
#transferpricing #internationaltaxation #Global #Updates

@cauditgupta @CARaghavG

[Legal Quotient Consultants @QuotientLegal]

CBDT notified rules for relief in MAT computation vide notification No. 92/2021.
#cbdt #transferpricing #incometax

@CARaghavG @cauditgupta @bansaldeepanshu

[Legal Quotient Consultants @QuotientLegal]

Global Transfer Pricing updates for July 2021.
#transferpricing #internationaltaxation
@CARaghavG @bansaldeepanshu @cauditgupta

[Legal Quotient Consultants @QuotientLegal]

CBIC has issued clarification regarding the extension of limitation under GST law in terms of hon’ble supreme court's order vide circular dated 20.07.2021.

Please find below the summary for the clarification

#CBIC #Clarification #GSTUPDATE #SupremeCourt

[Legal Quotient Consultants @QuotientLegal]

Service export benefit under #SEIS scheme has been approved for FY 2019-20 with the financial allocation of INR 2061 CR along with suitable caps.

SEPC_INDIA had been regularly communicating for the same with the concerned authorities.
#MEIS #SEIS #SPEC #export #FTP

[Legal Quotient Consultants @QuotientLegal]

The Finance Act, 2021 has introduced new sections 194Q, 206AB, and 206CCA which are effective from 1st July 2021. CBDT has issued Section 206AB and Section 206CCA vide circular no. 11/2021 on 21st June 2021.

Here is the summary and the process for your reference.

[Legal Quotient Consultants @QuotientLegal]

On consideration of hardship being faced by the taxpayers in making various compliance under Income Tax Act, 1961 in this severe pandemic, CBDT provides relaxation of various compliances. Income tax due date extension summary chart is given below:

#tax #incometax #CBDT

[Legal Quotient Consultants @QuotientLegal]

CBIC has issued a circular on 21.06.2021 for clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020- Central Tax dt. 21.03.2020. The summary is given below:-

#cbic #gstupdate #QRcode #circular